The consumer demand for a given product (where x represents number of units and p represents...

 

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The consumer demand for a given product (where x represents number of units and p represents price is $) is given by the function x= (45-3p) Using the concept of Elasticity of Demand, determine the price that the product should be sold at to maximize revenue. Enter your answer rounded to the nearest tenth (For example express 7 as 7.0 and 5.72 as 5.7). The consumer demand for a given product (where x represents number of units and p represents price is $) is given by the function x= (45-3p) Using the concept of Elasticity of Demand, determine the price that the product should be sold at to maximize revenue. Enter your answer rounded to the nearest tenth (For example express 7 as 7.0 and 5.72 as 5.7).